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Hedera Network Embraced by Hyundai and Kia for Innovation

Wed, 08/02/2023 - 14:08
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Tomiwabold Olajide
Hyundai and Kia have introduced CO2 Emission Monitoring System based on Hedera network
Hedera Network Embraced by Hyundai and Kia for Innovation
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Hyundai and Kia, two major automakers, have embraced the Hedera network, indicating an increase in blockchain adoption.

According to an exciting announcement, Hyundai Motor Company and Kia Corporation have introduced a CO2 Emission Monitoring System based on the Hedera network.

The HBAR Foundation revealed in a blog post that Hyundai, South Korea's largest car manufacturer, and Kia have launched an AI-enabled supply chain carbon emissions tracking solution on the Hedera network.

Using the Hedera network, the blockchain-based Supplier CO2 Emission Monitoring System (SCEMS) would manage the carbon emissions of business partners. The successful integration of the implementation with Hedera would also assure data integrity and transparency throughout the supply chains.

According to the blog post, Hyundai and Kia have successfully validated the functionality of Hedera's network and have decided to use it to achieve their essential goal of gathering carbon emissions data in a timely and secure manner.

Hedera (HBAR) to Undergo Mainnet Upgrade: Details

With this innovative system, Hyundai and Kia aim to combat climate change and build sustainable supply chains inside the company and with their cooperative partners.

Hyundai's integration of Hedera, as one of the world's leading automobile manufacturers, marks a key milestone for sustainability in the auto industry, according to the official Hedera Twitter account.

Shinhan Bank, Taiwan's largest financial institution and South Korea's oldest bank, conducted an international remittance trial last week, verifying Hedera's feasibility for EVM-based stablecoin issuers worldwide.

In another big milestone, the Hedera mainnet has crossed the 16 billion transaction mark.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.